Markets Gain, Eyes on Consumer Spending

Wall Street gears up for a positive start to the holiday-shortened week, with futures for major indexes showing gains. The S&P 500, Dow Jones, and Nasdaq futures have risen by half a percent, two-tenths of a percent, and seven-tenths of a percent, respectively. As markets prepare for Thanksgiving, traders will shift focus to the American consumer, with consumer spending driving two-thirds of U.S. economic growth. The upcoming Black Friday and Cyber Monday sales events will be closely watched, especially after a six-week government shutdown left data on the U.S. economy scarce. Novo Nordisk shares plummeted by ten percent after its Alzheimers drug failed to slow disease progression in a recent trial. European markets saw mixed results, with Germanys DAX gaining half a percent and Britains FTSE 100 rising by three-tenths of a percent. Investors will closely monitor consumer behavior and economic reports to assess the U.S. economys strength during the holiday season. DNN | The Daily News Now! The world’s first global local news network. Every city. Every story. AI powered. Hosted on Acast. See acast.com/privacy for more information.